NEW YORK (TheStreet) -- Evercore ISI has a "buy" rating and $1,015 price target on Amazon.com (AMZN) - Get Report as a result of the e-commerce giant's web services, as well as its opportunity in the cloud sector, Evercore analyst Ken Sena said on CNBC's "Power Lunch" on Thursday afternoon.
His optimistic comments on Amazon come after the stock hit an all-time high earlier today.
"When you look at Amazon's retail business, I think what we're trying to argue is that that is very much a cloud business," he said.
Amazon is expanding into "audience platforms" and can "leverage automation into supply chain," as well as "use machine learning for the sake of recommending to you what you want," Sena noted.
This opportunity will drive the top line, cost efficiency and capital efficiency, he explained.
(Amazon.com is held in the Growth Seeker portfolio. See all of the holdings with a free trial.)
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings team rates Amazon.com as a Buy with a ratings score of B-. COM INC (AMZN) a BUY. This is driven by some important positives, which the team believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks the team covers.
You can view the full analysis from the report here: AMZN